Vietnam has won a bid to supply the Philippines 300,000 tons of 25 percent broken rice at an average price of US$625 a ton, the Vietnam Food Association said.
|Farmers harvest rice in An Giang Province. Vietnam has won a bid to supply the Philippines 300,000 tons of 25 percent broken rice and plans to make further bids.|
The grain will be delivered between February to May 2010 and the Philippines will make deferred payments.
Thailand and France-based Louis Dreyfus Corporation won bids for 100,000 tons each.
Vietnam is getting $145 more per ton than for a bid it won on November 4.
A ton of 25 percent broken rice currently sells for $480 in the global market.
In Vietnam, though the supply of rice in the market is limited, the association’s member companies have plenty in stock, enabling the country to take part in further bids in the Philippines on December 4, 8, and 15 for 1.5 million tons.